Key Points You may be gearing up to claim Social Security before 2025 comes to an end.It's important to know what benefits to expect and make sure you're not shorting yourself on retirement income you might need.

Starting in August, the Social Security Administration (SSA) will claw back overpayments, potentially reducing recipients’ checks by as much as half. Those who received a letter from the SSA regarding overpayment may need to rebudget their expenses as the agency moves to recoup excess funds.

If benefits are reduced, it would require $138,000 in additional savings to generate the same income, PensionBee found. Here's how that breaks down by age.